Op risk management has tangible benefits, firms claim

Operational risk managers can help financial companies get a better handle on their costs and capital and take a longer-term view of business decisions

Operational risk management delivers quantifiable value to financial firms by helping reduce costs, forecast long-term consequences of business decisions and also keeping capital levels from shooting up, according to executives from both the business and risk functions.

Business managers benefit from operational risk's bird's eye view of a company's daily activities and plans and from its rigorous approach to identifying potential hazards, said panellists at the OpRisk North America conference